U.S. Law firm Baker & McKenzie, HSBC facilitate Saudi Islamic Bond offering
On April 2, 2012 · In HSBC, Islamic Bonds, Saudi Arabia, Shariah Bonds, SUKUK
From the U.S.-Saudi Arabian Business Council…
U.S. international law firm Baker & McKenzie has acted for Almarai Company on the establishment of a $613.3 million (SR2.3 billion) sukuk (Islamic bond) program and inaugural issuance of a $266.7 million (SR1 billion) sukuk. The debut Sukuk issuance for Almarai Company, the largest Saudi dairy products company, was privately placed with Saudi investors who were not disclosed. London-based banking group HSBC arranged the issuance of the first sukuk.